The S&P/TSX composite index closed up 13.68 points to 21,236.52 after a strong morning start to trading. Tech stocks were hurt by higher bond yields with 10-year U.S. treasuries rising to 1.648 per cent and Canadian 10-year government bonds at 1.587 per cent. In Canada, Shopify Inc. shares plunged 10.9 per cent to push the technology sector down 3.3 per cent. Small said tech stocks being unloaded could become bargains if the sell-off persists for a few days. Higher bond yields supported the heavyweight financials sectors with all Canadian banks gaining, led by Bank of Montreal, whose shares rose 3.6 per cent.

Source: CBC News January 05, 2022 06:28 UTC